Ensuring Compliance,
Safeguarding Integrity
ONYX Sound Checks
INDEPENDENT COMPLIANCE AUDIT
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The Guernsey Financial Services Commission requires all Specified Businesses (financial services and prescribed businesses) to establish and maintain an independent compliance audit function where appropriate.
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The independent compliance audit function must:
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examine and evaluate the adequacy and effectiveness of the policies, procedures and controls adopted by the business to comply with Guernsey's AML/CFT/CPF legislation and the Handbook; and
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report on and make recommendations to the board of the business in relation to those policies, procedures and controls.
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Who can fulfill this function?
Specified businesses without an internal or group audit function may engage a suitably skilled external individual to conduct the audit, provided that this person is knowledgeable about the Bailiwick’s AML/CFT framework.
If a firm uses external services for the independent audit function, the Commission expects the firm to follow the principles outlined in the outsourcing requirements when assessing the suitability of the external party.
ONYX Compliance Solutions is here to support the long-term health and success of your organisation. Engage with us to undertake this independent compliance audit function to ensure operations are within the bounds of the law and adhere to best practice in governance and ethics.
INDIVIDUAL REVIEWS TO SUIT YOUR BUSINESS
Our ONYX Sound Checks offer a quick, focused look at key areas of your compliance framework—without the weight of a full audit or formal review. They're designed to give you peace of mind and practical insights tailored to your business, helping you stay ahead of regulatory expectations and potential risks.
Whether you're a regulated business or simply want to ensure your internal controls are working as they should, ONYX Sound Checks are a smart, efficient way to keep your compliance on track.
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What we cover
Each Sound Check is tailored to your business needs and can focus on areas such as:
📄 Financial Crime Policy Sound Check
We look at whether your policy is aligned with current legislation, guidance, and best practice—and whether it’s actually usable in the real world.
⚖️ Business Risk Assessment Sound Check
A review of your BRA for completeness, clarity, and real-world application—does it reflect your business today, not just the day it was written?
👥 CDD & Onboarding Process Sound Check
Focused feedback on your due diligence procedures and documentation—are you meeting the standards, and where can things be simplified?
🧠 Governance & Culture Sound Check
How embedded is compliance in your day-to-day? We’ll highlight gaps and opportunities to strengthen your culture and controls.
and many more.
WHAT YOU GET
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A document-based review
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A clear, jargon-free summary of key observations
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Practical pointers and risk-rated recommendations
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Optional follow-up call to talk through next steps
At ONYX Compliance Solutions Limited, we offer expert independent compliance audits tailored to the specific regulatory requirements of Guernsey.
With more than 35 years in the financial services industry and a track record of building a successful compliance consultancy, we deeply understand the vital importance of maintaining compliance in an ever-changing regulatory landscape.
Our comprehensive audits are designed to provide an objective assessment of your organization's compliance framework, ensuring it meets the stringent standards set by Guernsey's regulatory bodies. Whether you need a full compliance review or a targeted audit on specific areas of concern, our team will deliver clear, actionable insights to enhance your compliance posture.
